By Tayo Ogunbiyi
With the growing pressures for enhanced service delivery in Nigeria and the challenges of budgetary crises and fiscal shocks, the need for improved budget processes and innovative financial management techniques is especially critical more than ever before. The increasing significance of budgets in the economy has obliged the use of new techniques in managing them. It also calls for transparency and clarity of vision on the part of political leadership.
In Lagos State, especially in the past six years, prioritization of developmental needs and earmarking resources commensurate with the importance of each sector has been the compelling factors in budgetary estimates. In the last six and a half years, the Lagos State government has changed the paradigm not only in budgeting but in its implementation. The state has not only effectively monitored budget implementation; it has consistently delivered a budget performance of over 75%.
It has been the policy of the government to embark on periodic budget reviews. Repeated monitoring, critical examination, and diligent application of the process have positively impacted budget performance in the state.
The idea of periodic budget assessment speaks volumes of the pro-activeness of the government as it affords it a scientific basis for measuring its performance consistently while putting pressure on government departments and agencies to meet budgetary targets.
This amply reflects the commendable form of progress that is being made in terms of budget monitoring and implementation at the ‘Centre of Excellence’. More importantly, it is inspiring that the result of a recent impact assessment done by the government shows that critical sectors as health, education, the environment and security are experiencing marked improvements. Also, in terms of literacy level, the level in the state is above the National Average.
The implication of this is enhanced security, improved healthcare, and, invariably better quality of life. The number of patients to doctors is also improving, as reflected in life expectancy. Equally, the number of stillbirths and deaths is also gradually reducing.
Since the inception of the current administration, the government’s programmes, policies, and activities have been firmly anchored on the T.H.E.M.E.S+ Agenda — a framework that continues to guide the transformation of Lagos into a safer, smarter, greener, and more inclusive megacity.
Year after year, the administration’s budgets have been structured to move the state from stability to reform, from reform to expansion, and now, from expansion to shared and enduring prosperity.
In the past six years, the administration’s fiscal journey has followed a clear and deliberate progression. In 2020, its ‘Budget of Awakening’ laid the foundation for a Greater Lagos, while the 2021 ‘ Budget of Rekindled Hope’ stabilized the economy after unprecedented disruptions.
In 2022, the ‘Budget of Consolidation reinforced systems and institutional reforms, and the 2023 ‘Budget of Continuity’ connected the administration’s first-term gains to its long-term vision.
The 2024 ‘Budget of Renewal’ aligns with the national Renewed Hope Agenda, while the 2025 ‘Budget of Sustainability safeguarded progress and strengthened resilience.
Each of these budgets has served as a building block —supported by discipline, rigorous planning, and the steadfast partnership of all stakeholders. Collectively, they have delivered measurable improvements in mobility, healthcare, education, housing, agriculture, technology, environmental management, and public safety.
It is, thus, quite cheering that the State’s N4.237 trillion Appropriation Bill for the 2026 is coming at a time when the focus of the government is on sustaining and surpassing the gains of the past six and half years through the completion of several ongoing projects such as the Massey Street Children’s Hospital, General Hospital, Ojo and Opebi-Ojota Link Bridge among others.
The budget is a bold and forward-looking financial plan designed to consolidate the current administration’s legacy in its final full year.
The Y2026 Appropriation Bill, ‘Budget of Shared Prosperity,’ is a reaffirmation of the government’s collective belief that Lagos can continue to rise, continue to lead, and continue to create opportunities for every resident of Africa’s preferred megacity.
The budget has a total revenue estimate of N3,993,774,552,141, supported by Internally Generated Revenue of N3,119,774,552,141 and Federal Transfers of N874 billion. This revenue projection leaves a deficit financing requirement of N243,332,457,167.
Capital expenditure for the year is proposed at N2,185,085,419,495, while recurrent expenditure is estimated at N2,052,021,589,812 the recurrent component includes overheads, personnel costs, and debt obligations.
From all indications, with the availability of the required financial resources, the government will accomplish its objective of sustaining a rising Lagos. Over the years, it has demonstrated enough capacity to implement projects.
Ironically, however, the successes of the state have created some socio-economic challenges as reflected in the number of people coming into the state to benefit from what it has to offer. It is quite similar to the case of Nigerians travelling abroad in search of the proverbial greener pasture.
In order to ensure the total success of the state’s 2026 budget, the people need to be fully involved in its implementation. For instance, they need to speak up whenever they notice any anomaly in the implementation of projects in their localities. The projects in their localities are theirs and are principally meant for them, so they should monitor them to ensure that the money being spent is well spent.
Similarly, existing structures for programme monitoring should be supported with proper evaluation systems, especially where existing ones are weak. It is important, equally, that evaluation provides evidence-based information that is credible, reliable, and useful, enabling the timely incorporation of findings, recommendations, and lessons learnt into decision-making.
Perhaps, more notably, all MDAs in the state need to be more creative in their revenue generation drive by focusing on untapped areas of revenue.
On a final note, it is important to stress that every resident of the state has an important role to play in the full implementation of the budget. After all, the human challenges that confront implementation of budgets are both behavioural and attitudinal, particularly with people still refusing to comply with the laws of the state. The effect of this is to increase the cost of running the government in many ways because of compulsory compliance, which the people will not accede to, often leaves the government spending more money on law enforcement than it probably would have.
For instance, people driving against traffic, people not managing their refuse properly, refusing to use the PSP, and patronizing cart pushers who are not registered to operate, and people selling along the road, and so many other unwholesome behaviours are all parts of the human factors working against the budget.
So, as the state government embarks on the implementation of the 2026 Budget, there is a need for all residents of the state to embrace attitudinal change that would enhance accelerated growth and development.
•Ogunbiyi is Director, Public Enlightenment & Community Relations, Ministry of Information and Strategy, Alausa, Ikeja.
